Accounting Systems & Processes

Описание: Welcome to Part 1 of the Savvy Business Owner's Guide to Financial Success series, which is designed to help you navigate the complex world of business.

Accounting plays a vital role in running a business because it helps you track income and expenses, ensure compliance has been met, and provide investors, management, and government bodies with quantitative financial information which can be used in making business decisions.

Even a business with strong sales can struggle if it doesn’t have an effective accounting system in place. With the right accounting system, your businesses can streamline and increase efficiency across your financial processes.

But, there is so much information out there regarding what kind of system you should implement and what software would be best for those processes. There is no doubt that it can get a little bit complicated for any new business owner.

And that's why today, we want to give you an overview of the best practice accounting systems.

Timestamps:
00:00 - Best practice accounting systems
01:35 - Benefits of cloud accounting
03:30 - Single-Touch Payroll explained
06:04 - Paperless payables and the benefits
06:30 - Importance of a good accountant

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Myssy + Co is a boutique professional services firm based in Sydney, NSW. Our mission is to provide a high quality full service offering to SMEs from traditional services - financial reporting, tax compliance, bookkeeping - to services that will help you grow your SME - business advisory, grants and tax planning.

All work is undertaken with a strategic approach in mind ensuring that all services are delivered in line with your SME vision. We have experience in a wide range of industries from retail, hospitality, construction, professional services, technology and international trade to name a few.

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CONNECT:
LinkedIn:   / myssy-co  
Website: https://www.myssyco.com.au/

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DISCLAIMER: Please note that the information presented in this video is general in nature and intended as a general guide only. This information should not be seen to constitute legal or tax advice. You should, where necessary, seek tailored guidance from a licensed financial professional to ensure it takes into account your personal circumstances, objectives and needs.